Yahoo Finance Trending tickers: Endeavour Mining | Peloton | Bitcoin
Endeavour Mining (EDV.L)
Endeavour Mining stock went into free fall this morning as markets opened in London, settling at around 12% lower after news broke on Thursday that its CEO Sébastien de Montessus had been fired due to serious misconduct related to the sale for a company asset.
The moves were made after a board investigation into an “irregular payment instruction” of $5.9m issued by de Montessus.
In a statement, the former executive said that in 2021 he instructed an unnamed creditor of the company to offset an amount owed for essential security equipment, to protect its partners and employees in an unspecified conflict zone.
He added that the transaction did not benefit him in any way, but he had failed to inform the board about the misconduct "which I have freely accepted was a lapse in judgement".
The company is also considering how to respond to allegations made in October about the CEO's personal conduct with colleagues.
Peloton (PTON)
Exercise equipment company Peloton stock finished almost 14% higher on Thursday and was continuing its ascent in premarket trade on Friday, after announcing a partnership with TikTok. As part of the deal, Peloton content will be featured on a dedicated fitness hub on the platform.
This marks the first time the exercise bike company will produce bespoke social content for a partner outside of its own channels. With TikTok's more than one billion active users globally, the partnership will bring fresh audiences to its content, which is usually licensed and distributed via its machines.
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Stock was up 1.3% in premarket trade.
Bitcoin (BTC-USD)
Bitcoin has been in the spotlight this week as anticipation ramps up for a US Securities and Exchange Commission (SEC) decision on various spot bitcoin exchange traded fund (ETF) applications working their way through the system.
On Friday, it was up more than 2% to trade at $43,000 after a day of selling on Wednesday which saw it dip to around $41,000.
These ETFs would allow everyday investors to get exposure to bitcoin (BTC-USD) without having to own it, trading it like they would a stock.
The approvals could also expand widespread acceptance of the world’s biggest cryptocurrency, making bitcoin a potential staple in 401(k)s, individual retirement accounts and pension plans used by everyday people.
The applicants include some of the biggest names on Wall Street, from BlackRock (BLK) to Franklin Templeton (BEN), as well as a number of firms better known in the crypto world.
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